What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading app that sets itself apart from its competitors by charging no fees.
A leading Canadian online financial services business founded in Autumn 2014 exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both single stocks and also ETFs without paying any fees. The exception is when trading ETFs and stocks that are denominated in USD. In this case, they will charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was common only a couple years past.
How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable min deposit amounts of 1K-5K. This makes it hard for the common investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-registered accounts. You are free to choose both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and Google Play. The smartphone app makes the registration process and also trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also employs about 600 people. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your account. Simply connect to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings account through the exact same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to earn 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of online courses on saving, investments, crypto, home buying and much more.
Each of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app and from their website with a single login.
So How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the cash value of a share worth up to $4,500 CAD as soon as you fund your account.
What if I Still Have Additional Questions Concerning Wealthsimple Zero Commission?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for further answers relating to Wealthsimple Zero Commission, visit the Wealthsimple website to find answers to all your questions.